Latest Ratios: P/E Ratio -3.2x · EV/EBITDA N/A · ROE -155.7%. (2018–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $84M | $106M | $49M | $43M | $37M | $55M | — | — | — |
| Enterprise Value | $64M | $86M | $40M | $32M | $31M | $20M | — | — | — |
| P/E Ratio → | -3.25 | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | 771.06 | 265.47 | 334.55 | — | — | — |
| P/B Ratio | 3.52 | 5.72 | 6.73 | 3.38 | 1.97 | 1.59 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | 575.93 | 222.38 | 120.77 | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | — | — | — | -40328.3% | -12688.1% | -8379.8% | -12047.5% | -5084.9% | -4989.7% |
| Net Profit Margin | — | — | — | -40354.3% | -12555.1% | -8418.9% | -12387.7% | -5310.9% | -5364.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -155.7% | -155.7% | -205.0% | -141.6% | -65.5% | -67.7% | -124.4% | — | — |
| ROA | -115.4% | -115.4% | -132.8% | -104.3% | -55.8% | -57.2% | -69.7% | -298.0% | -136.2% |
| ROIC | — | — | — | -227.8% | -215.3% | — | — | — | — |
| ROCE | -135.2% | -135.2% | -186.1% | -132.3% | -63.0% | -63.0% | -95.7% | -6765.6% | -366.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.09 | 0.08 | 0.07 | 0.05 | 0.20 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.08 | -1.33 | -0.86 | -0.32 | -1.01 | -1.00 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | -102.24 | -19.60 |
Net cash position: cash ($21M) exceeds total debt ($732067)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.63 | 6.63 | 2.97 | 3.59 | 5.11 | 14.78 | 4.25 | 0.45 | 0.93 |
| Quick Ratio | 6.63 | 6.63 | 2.97 | 3.59 | 5.11 | 14.78 | 4.25 | 0.45 | 0.93 |
| Cash Ratio | 6.22 | 6.22 | 2.66 | 3.39 | 4.88 | 14.45 | 3.54 | 0.35 | 0.75 |
| Asset Turnover | — | — | — | 0.00 | 0.01 | 0.00 | 0.00 | 0.06 | 0.03 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | 1604.58 | 270.61 | 432.37 | 108.03 | 396.94 | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $33M | $23M | $13M | $12M | $10M | $12M | $8M | $6M |
Clinical trial funding shortfall
Based on reported figures, Gain Therapeutics trades at a price-to-book ratio of 3.11, which suggests that the market is heavily discounting the company's intellectual property and computational platform in favor of prioritizing its current cash-to-burn ratio relative to its clinical-stage peers in the neurodegeneration space.
The valuation appears to be driven by the binary nature of the GT-02287 program rather than a long-term earnings multiple, which is typical for pre-revenue biotech firms. Investors should monitor whether the current valuation reflects a floor based on cash reserves or if further clinical delays could lead to additional compression.
As reported in financial statements, the company's ROE has remained deeply negative, reaching -34.4% in 2026Q1, which highlights the structural challenge of compounding returns when the primary output is clinical data rather than commercialized products or sustainable operating margins.
The volatility in ROE, which swung from -122.6% in 2025Q2 to -34.4% in 2026Q1, reflects the episodic nature of capital raises and the high intensity of R&D spending. This trend suggests that until the SEE-Tx platform achieves a successful clinical exit, return metrics will likely remain a function of cash management rather than operational efficiency.
According to recent SEC filings, the current ratio has fluctuated significantly, dropping from 6.63 in 2025Q4 to 4.69 in 2026Q1, which indicates that the company's ability to cover short-term obligations is tightening as clinical trial expenses continue to outpace non-dilutive grant inflows.
While the current ratio remains above 1.0, the rapid decline in liquidity suggests that the company's runway is highly sensitive to the timing of clinical milestones. Investors should interpret this trend as a signal that the firm may need to access capital markets sooner than anticipated to maintain its current operational trajectory.
As noted in financial disclosures, the use of P/E ratios to evaluate Gain Therapeutics is fundamentally flawed, as the company lacks commercial revenue and operates in a pre-revenue phase where net losses are a deliberate investment in future intellectual property rather than a sign of operational failure.
Analysts should instead focus on the 'Core Burn' rate and the probability-weighted NPV of the clinical pipeline to assess value. Relying on traditional profitability metrics obscures the potential value of the SEE-Tx platform, which is the primary driver of the company's long-term terminal value.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying GANX stock.
Gain Therapeutics, Inc.'s current P/E ratio is -3.2x. This places it at the 50th percentile of its historical range.
Gain Therapeutics, Inc.'s return on equity (ROE) is -155.7%. The historical average is -126.6%.
Based on historical data, Gain Therapeutics, Inc. is trading at a P/E of -3.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.